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Updated over 5 years ago on . Most recent reply

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Chris Bisaillon
  • Investor
  • Westerly, RI
9
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45
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Closed on my first 3 unit!

Chris Bisaillon
  • Investor
  • Westerly, RI
Posted

So it's official, I've closed on my first 3 unit about a month ago in RI. 2 of the units are already rented. Did some painting and light work to the 3rd. Have it listed and looking for potential tenants now. Finding good tenants is tough. Have it listed w Tellus & Cozy. No one wants to go through the application and screening process. Had a good number of inquiry. If anyone has some advice that would be great. Thanks.

  • Chris Bisaillon
  • Most Popular Reply

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    Will Fraser
    • Real Estate Broker
    • Salt Lake City & Oklahoma City
    2,322
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    Will Fraser
    • Real Estate Broker
    • Salt Lake City & Oklahoma City
    Replied

    HI @Chris Bisaillon!  Congratulations on the purchase and the journey you've begun!  I find most of my tenants on Zillow (via Zillow Rental Manager) and I have found, like @Brandon Turner says in The Book on Managing Rental Properties, the more specific and clear you are about your minimum qualifying standards, the less time you'll be wasting dealing with bad applicants.  Be sure to know what you'll require in your unit, and then make those requirements clear in the listing.

    Be sure to follow all Equal Housing and anti-discrimination laws carefully, and within those bounds be as clear as possible, like "No smoking, minimum credit score of X, income must be Y" and so on.

    Good luck on the road!

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